A Current Liability Is Defined as a Commitment or Obligation

question 95

Multiple Choice

A current liability is defined as a commitment or obligation which requires a company to transfer assets, create a new current liability, or provide services to another entity at some point in the future that must occur

• A)within one year.
• B)within one year or within the operating cycle, whichever is shorter.
• C)within one year or within the operating cycle, whichever is longer.
• D)by the end of the operating cycle.

---

Definitions:

Learned Helplessness

A condition in which an individual learns to feel powerless and unable to affect the outcome of events after repeated exposure to uncontrollable and adverse situations.

Depression

A psychological condition marked by a continuous feeling of sadness, disinterest in hobbies, and additional signs that negatively affect everyday life activities.

Stressful Events

Situations or occurrences that cause strain or tension, often triggering emotional or physical reactions.

Cognitive-Behavioral Therapy

A therapeutic technique that targets unhealthy feelings, actions, and thoughts with a purpose-driven, organized method.